Tenstorrent, a leading AI chip startup, has raised $693M USD in a Series D funding round, valuing the company at $2.7B. Samsung Securities and AFW Partners led the round, with new investors including HOOPP, Export Development Canada, Toronto’s Georgian, and Bezos Expeditions. Tenstorrent develops machine-learning chips, sells servers to data centers, and licenses IP for custom hardware.
Founded in Toronto, Tenstorrent relocated to the U.S. in 2023 under CEO Jim Keller. This marks HOOPP’s first investment in a Canadian AI startup and EDC’s continued backing of the sector, which includes model maker Cohere.
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